Trump Accounts are initially held and managed by the U.S. Treasury. But a parent, guardian, or other authorized adult serves as the account custodian, which means they're the one managing contributions and overseeing the account on behalf of the child.
It's a layered setup, but it's simpler than it sounds.
The U.S. Treasury Holds the Account
When you first open an Invest America Account, the U.S. Treasury is the institution managing it. The money is invested in government-approved low-cost S&P 500 index funds. You're not choosing a brokerage or picking a bank. The government handles the underlying investment vehicle.
After the program officially launches on July 5, 2026, families will have the option to roll the account over to a participating financial institution. That's when companies like Grifin come in, as a potential home for families who want to manage their Trump Account alongside their other investments.
The Parent or Guardian Is the Custodian
While the Treasury holds the account, a parent, grandparent, or authorized adult serves as custodian. That means they're the ones who:
- Open the account on behalf of the child
- Make or authorize contributions
- Manage any rollover decisions once the program allows it
- Oversee the account until the child turns 18
The account is held in the child's name, but the custodian is the responsible adult. See the step-by-step guide to opening an account here.
Can a Grandparent Be the Custodian?
Yes. Any authorized adult can serve as custodian, including grandparents. This is useful for families where a grandparent wants to take the lead in setting up the account or managing contributions over time. The key is that the account is always in the child's name, not the custodian's.
Does the Custodian Make Investment Decisions?
Not really. The investment universe is set by the program itself: low-cost S&P 500 or U.S. equity index funds with expense ratios at or below 0.10%. There's no stock-picking or portfolio management required. The custodian's main job is opening the account, making contributions, and eventually facilitating the rollover to a financial institution if desired.
What Happens When the Child Turns 18?
At 18, the custodian relationship ends. The child takes full ownership and control of the account, which at that point converts to a traditional IRA. See everything that happens at 18 here.
What Does Grifin Have to Do with This?
Grifin isn't affiliated with the U.S. government or the Invest America program. But Grifin is positioning to be a trusted home for families once financial institutions are allowed to hold Trump Account balances. In the meantime, Grifin helps families understand the program, track their eligibility, and stay ready to act when the rollover option opens up. Learn more about how Grifin connects to Invest America here.
Find out what your child qualifies for at investamericaquiz.com.
Wondering about something specific? We've rounded up everything people are asking about Trump Accounts.
This post is for educational purposes only and is not tax, legal, or investment advice. Grifin is not affiliated with the U.S. government or the Invest America program.
